some reasoning behind newsflow, page-7

Agent,

The Eagleford wells which will have new production figures from, are all wells which TXN drilled and fracked themselves (EFS 6,7,8).

Also, SEA delayed the release of the Logan County wells (most likely for acreage acquisition purposes), and they were extremely good.

It's a common industry practice that if you have good well results and you are still leasing acreage, you keep a lid on the news (provided it's a strong lid without leaks) until deals are done.

Every single major O&G company does this.

When you compare the TXN EUR's and IP's with other companies, Canaccord's statement has SOME substance. Cabot Oil and Gas (McMullen County) have 24 hour IP's of 650 boepd, 30 day IP's of 460 boepd, and EUR's of 400 MBOE. Even if those EUR's are inflated a little bit, there is a definite difference in the trend between IP and 30 day average.

TXN's wells have an average 24 hour IP:30 day IP ratio of 1.92. Cabot Oil and Gas has a much smaller ratio of 1.41, in the same region.

Chesapeake have low IP's, but I'd bet that their decline ratio from reported IP to 30 day would be lower than 1.92 as well.

I'm expecting TXN to deliver 30 day flow rates of ~1,000 boepd on average between EFS 6 and EFS 7. I do agree that TXN drill very impressive wells... that's not in question. What is highly in question is whether TXN flowed the wells back a bit more heavily at the start.

Who knows, it could be a matter of other companies reporting IP's before the well has cleaned up, to make declines look better. (in comparison to TXN who report IP's at their MAX).